In the half-year results announced recently, Kier says that it made a pre-tax loss of £41.2m for the period of 1 July – 31 December, 2019. These results occurred as restructuring charges and asset write-downs continued to rise at the embattled contractor, says the construction company.
Besides reporting a heavy loss, the restructuring costs hit £48.8m during the six months as 1,200 people have left the business. In addition, Kier might face a downfall in number with another 50 set to leave by the end of this summer.
The figures reveal a £30.7m pre-tax profit excluding the exceptional items, from July to December last year. These profit earnings are very close when compared to the same period in 2018.
Kier showcases the construction news of 2018 with figures, too. The company said it gained a pre-tax profit of £30.2m while exceptional items are discounted, and it faced a pre-tax loss of £45.3m respectively.
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